[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 772 Introduced in Senate (IS)]
<DOC>
118th CONGRESS
1st Session
S. 772
To amend the Congressional Budget Act of 1974 to set responsible budget
targets.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
March 9, 2023
Mr. Braun introduced the following bill; which was read twice and
referred to the Committee on the Budget
_______________________________________________________________________
A BILL
To amend the Congressional Budget Act of 1974 to set responsible budget
targets.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Responsible Budget Targets Act of
2023''.
SEC. 2. ESTABLISHING RESPONSIBLE BUDGET TARGETS.
(a) In General.--Title IV of the Congressional Budget Act of 1974
(2 U.S.C. 651 et seq.) is amended by adding at the end the following:
``PART C--ESTABLISHING RESPONSIBLE BUDGET TARGETS
``SEC. 441. DEFINITIONS.
``In this part:
``(1) Primary balance factor.--
``(A) In general.--The term `primary balance
factor'--
``(i) with respect to the first fiscal year
that begins not less than 180 days after the
date of enactment of this part, means 0.0
percentage point; and
``(ii) except as provided in subparagraph
(B), with respect to each fiscal year after the
fiscal year described in clause (i), means the
sum obtained by adding--
``(I) the primary balance factor
for the previous fiscal year; and
``(II)(aa) if primary budget
authority exceeded revenue for the
fiscal year before the previous fiscal
year, 0.2 percentage point; and
``(bb) if revenue exceeded primary
budget authority for the fiscal year
before the previous fiscal year, -0.2
percentage point.
``(B) Special rule for first year after primary
balance.--
``(i) In general.--For the first fiscal
year that begins after the date of a
determination that, for a fiscal year beginning
after the date of enactment of this part,
revenue exceeded primary budget authority, the
term `primary balance factor' means 0.0
percentage point.
``(ii) Subsequent adjustment.--After the
first fiscal year described in clause (i), the
primary balance factor shall be adjusted in
accordance with subparagraph (A)(ii).
``(2) Primary budget authority.--The term `primary budget
authority' means all budget authority except for net interest
on the debt.
``(3) Spending ceiling.--The term `spending ceiling', with
respect to a fiscal year, means the maximum amount of primary
budget authority for the fiscal year, as determined under
section 442.
``(4) Spending growth factor.--The term `spending growth
factor', with respect to a fiscal year, means the difference
obtained by subtracting--
``(A) the primary balance factor for the fiscal
year; from
``(B) the average annual percentage growth in the
gross domestic product of the United States during the
5-fiscal-year period before the beginning of the fiscal
year before such fiscal year.
``SEC. 442. ESTABLISHMENT OF A SPENDING CEILING.
``(a) In General.--The maximum amount of primary budget authority
for a fiscal year shall be the amount of primary budget authority for
the previous fiscal year as--
``(1) increased by the spending growth factor; and
``(2) modified by any adjustments under section 444 or 445.
``(b) Exclusion of Adjustments From Baseline.--In determining the
maximum amount of primary budget authority for a fiscal year, the
amount of primary budget authority for the previous fiscal year shall
not include any adjustment under paragraph (1) or (3) of section 444 or
under section 445(c).
``(c) Determination.--
``(1) For congressional purposes.--The Director of the
Congressional Budget Office shall--
``(A) include in each report under section
202(e)(1) and revision of such a report an estimate of
the amount of the spending ceiling (including factors
necessary to produce the estimate) and any adjustments
under section 444 for the fiscal year commencing on
October 1 of the year during which the Director submits
the report; and
``(B) provide to the Committee on the Budget of the
Senate and the Committee on the Budget of the House of
Representatives updates to the estimate of the spending
ceiling and adjustments, as appropriate.
``(2) For executive branch purposes.--The President shall--
``(A) include in each budget of the President
submitted under section 1105 of title 31, United States
Code, an estimate by the Office of Management and
Budget of the amount of the spending ceiling and any
adjustments under section 444 for the fiscal year
commencing on October 1 of the year during which the
President submits the budget; and
``(B) obtain from the Office of Management and
Budget updates to the estimate of the spending ceiling
and adjustments, as appropriate.
``SEC. 443. USE OF CEILING.
``(a) By Congress.--When considering legislation, the Senate and
the House of Representatives shall adhere to the spending ceiling, as
determined by the Director of the Congressional Budget Office under
section 442(c)(1) (including any adjustments under section 444 or
445(c)).
``(b) By Executive Branch.--When considering proposals with fiscal
implications, the President shall adhere to the spending ceiling, as
determined by the Director of the Office of Management and Budget under
section 442(c)(2) (including any adjustments under sections 444 or
445(c)).
``SEC. 444. ADJUSTING THE SPENDING CEILING.
``When adopting a concurrent resolution on the budget (including a
concurrent resolution on the budget described in section 304), Congress
may adjust the spending ceiling as determined under section 442(c)(1),
and when enacting a supplemental appropriations Act, Congress may
adjust the spending ceiling as determined under section 442(c)(2),
commensurate with--
``(1) appropriations for an emergency, as defined in
section 250(c) of the Balanced Budget and Emergency Deficit
Control Act of 1985 (2 U.S.C. 900(c));
``(2) a revision in the estimate of the gross domestic
product of the United States for any year to which section
441(4)(B) applies;
``(3) cyclical variations due to the difference between the
actual and potential amount of the gross domestic product of
the United States;
``(4) timing shifts of expenditures or revenues due; or
``(5) enacted laws that result in a change in revenue.
``SEC. 445. EMERGENCY ACCOUNT ADJUSTMENTS.
``(a) Establishment of Emergency Account.--The Director of the
Congressional Budget Office and the Director of the Office of
Management and Budget shall each maintain an emergency account.
``(b) Computation.--
``(1) In general.--The amount of the emergency account
shall be--
``(A) increased by the amount of the adjustment
made under section 444(1); and
``(B) decreased by the difference obtained by
subtracting the amount of primary budget authority
provided for a fiscal year from the adjusted spending
ceiling (excluding any adjustment under section 444(1),
and including the effect of adjustments under section
445(c)) for that fiscal year.
``(2) Limit of zero.--The amount of the emergency account
may not be less than $0.
``(c) Adjustment.--
``(1) In general.--If the amount of the emergency account
on the last day of a fiscal year has increased, as compared to
the last day of the fiscal year before such fiscal year, the
amount of the spending ceiling for the second fiscal year after
such fiscal year and each of the ensuing 5 fiscal years shall
be reduced by the amount equal to one-sixth of the amount of
the increase in the emergency account.
``(2) Modification of adjustment.--
``(A) For congressional purposes.--When adopting a
concurrent resolution on the budget (including a
concurrent resolution on the budget described in
section 304), Congress may, for purposes of applying
the spending ceiling in the Senate and the House of
Representatives--
``(i) reduce the amount of the spending
ceiling by the amount of the emergency account
over a period shorter than 6 fiscal years; or
``(ii) in the case of an ongoing emergency,
reduce the amount of the spending ceiling by
the amount of the emergency account over a
period longer than 6 fiscal years.
``(B) For executive branch purposes.--When enacting
a supplemental appropriations Act, Congress may, for
purposes of applying the spending ceiling in the
executive branch--
``(i) reduce the amount of the spending
ceiling by the amount of the emergency account
over a period shorter than 6 fiscal years; or
``(ii) in the case of an ongoing emergency,
reduce the amount of the spending ceiling by
the amount of the emergency account over a
period longer than 6 fiscal years.''.
(b) Conforming Amendment.--The table of contents in section 1(b) of
the Congressional Budget and Impoundment Control Act of 1974 is amended
by inserting after the item relating to section 428 the following:
``PART C--Establishing Responsible Budget Targets
``Sec. 441. Definitions.
``Sec. 442. Establishment of a spending ceiling.
``Sec. 443. Use of ceiling.
``Sec. 444. Adjusting the spending ceiling.
``Sec. 445. Emergency account adjustments.''.
<all>